Key regions: Canada, United States, France, Europe, United Kingdom
The Skin Treatment (Pharmacies) market in Southeast Asia is experiencing significant growth and development.
Customer preferences: Customers in Southeast Asia are increasingly conscious about their skin health and appearance, leading to a growing demand for skin treatment products. Skin treatments, such as moisturizers, cleansers, and anti-aging creams, are becoming essential parts of daily skincare routines. Consumers are seeking products that address specific skin concerns, such as acne, dark spots, and dryness. They are also looking for natural and organic ingredients in their skincare products.
Trends in the market: One of the key trends in the Skin Treatment (Pharmacies) market in Southeast Asia is the rising popularity of Korean skincare products. Korean beauty brands have gained a strong foothold in the region due to their innovative formulations and effective results. The influence of K-pop and K-drama culture has also contributed to the popularity of Korean skincare routines, which involve multiple steps and a focus on hydration and nourishment. Another trend in the market is the increasing demand for halal skincare products. As Southeast Asia has a large Muslim population, there is a growing preference for skincare products that are certified halal, meaning they are free from any ingredients that are forbidden in Islam. This trend has led to the emergence of local halal skincare brands and the expansion of international brands to cater to this specific customer segment.
Local special circumstances: In Southeast Asia, the climate is predominantly tropical, with high humidity and temperatures. This climate poses challenges for skincare, as it can lead to increased oiliness, acne, and other skin issues. As a result, there is a demand for skincare products that are lightweight, non-greasy, and oil-free. Additionally, consumers in Southeast Asia are also concerned about sun protection due to the intense sunlight in the region. This has led to a higher demand for skincare products with SPF (Sun Protection Factor) and UV protection.
Underlying macroeconomic factors: The growing middle-class population in Southeast Asia is a key driver of the Skin Treatment (Pharmacies) market. As disposable incomes rise, consumers have more purchasing power to invest in skincare products. Furthermore, the increasing urbanization and westernization of lifestyles in the region have also contributed to the growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in Southeast Asia is experiencing growth due to customer preferences for skincare products, such as Korean skincare and halal products. The local special circumstances, such as the tropical climate, also influence consumer demand. The underlying macroeconomic factors, such as the growing middle-class population, further contribute to the development of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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